| Cash and Cash Equivalents |
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company’s Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Company’s Consolidated Statements of Cash Flows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
(in thousands) |
|
2025 |
|
|
2024 |
|
|
2023 |
|
|
Cash and cash equivalents |
|
$ |
240,850 |
|
|
$ |
205,233 |
|
|
$ |
120,839 |
|
|
Restricted cash |
|
|
12,137 |
|
|
|
15,518 |
|
|
|
16,363 |
|
|
Total cash, cash equivalents and restricted cash |
|
$ |
252,987 |
|
|
$ |
220,751 |
|
|
$ |
137,202 |
|
|
|
| Schedule of Supplemental Disclosure of Cash Flow Information |
The following table provides supplemental disclosure of cash flow information:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
(in thousands) |
|
2025 |
|
|
2024 |
|
|
2023 |
|
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES |
|
|
|
|
|
|
|
|
|
Exchange of ownership of Partnership SPV 1 Limited for fair value of GSH |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
15,854 |
|
Non-cash proceeds from divestitures |
|
$ |
2,535 |
|
|
$ |
45,056 |
|
|
$ |
4,283 |
|
Purchases of property and equipment recorded in accounts payable and accrued expenses |
|
$ |
— |
|
|
$ |
114 |
|
|
$ |
1,201 |
|
Purchases of capitalized software recorded in accounts payable and accrued expenses |
|
$ |
5,567 |
|
|
$ |
7,272 |
|
|
$ |
— |
|
SUPPLEMENTAL CASH FLOW INFORMATION |
|
|
|
|
|
|
|
|
|
Gain (loss) on divestitures from discontinued operations |
|
$ |
— |
|
|
$ |
95,099 |
|
|
$ |
(19,068 |
) |
Non-cash consideration for purchases of investments in unconsolidated affiliates |
|
$ |
— |
|
|
$ |
10,432 |
|
|
$ |
— |
|
Cash payments for interest |
|
$ |
(142,681 |
) |
|
$ |
(163,202 |
) |
|
$ |
(174,767 |
) |
Cash received from interest rate derivatives |
|
$ |
— |
|
|
$ |
30,824 |
|
|
$ |
28,808 |
|
Cash payments for income taxes, net |
|
$ |
(19,291 |
) |
|
$ |
(31,269 |
) |
|
$ |
(39,007 |
) |
|
| Disaggregation of Revenue |
Disaggregated revenues were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
(in thousands) |
|
2025 |
|
|
2024 |
|
|
2023 |
|
Branded Services |
|
|
|
|
|
|
|
|
|
Brokerage services |
|
$ |
362,536 |
|
|
$ |
495,302 |
|
|
$ |
534,670 |
|
Branded merchandising services |
|
|
462,243 |
|
|
|
428,821 |
|
|
|
444,859 |
|
Omni-commerce marketing services |
|
|
338,893 |
|
|
|
382,213 |
|
|
|
404,522 |
|
European joint venture (1) |
|
|
— |
|
|
|
— |
|
|
|
374,366 |
|
Total Branded Services revenues |
|
$ |
1,163,672 |
|
|
$ |
1,306,336 |
|
|
$ |
1,758,417 |
|
Experiential Services |
|
|
|
|
|
|
|
|
|
Experiential services |
|
$ |
1,435,297 |
|
|
$ |
1,295,029 |
|
|
$ |
1,159,449 |
|
Total Experiential Services revenues |
|
$ |
1,435,297 |
|
|
$ |
1,295,029 |
|
|
$ |
1,159,449 |
|
Retailer Services |
|
|
|
|
|
|
|
|
|
Retail merchandising services |
|
$ |
693,368 |
|
|
$ |
701,709 |
|
|
$ |
714,052 |
|
Advisory services |
|
|
187,000 |
|
|
|
197,506 |
|
|
|
207,675 |
|
Agency services |
|
|
63,305 |
|
|
|
65,744 |
|
|
|
60,532 |
|
Total Retailer Services revenues |
|
$ |
943,673 |
|
|
$ |
964,959 |
|
|
$ |
982,259 |
|
Total revenues |
|
$ |
3,542,642 |
|
|
$ |
3,566,324 |
|
|
$ |
3,900,125 |
|
(1)The Company previously held a majority interest in a European joint venture that provided retail and sales solutions across multiple markets, which the Company deconsolidated in fiscal year 2023 after its ownership interest was reduced.
|